Dated: 6th March 2007




Members are hereby informed that the whole time member of SEBI vide his order dated 23rd February 2007, in exercise of his powers under Regulation 13(4) of  (Procedure for Holding Enquiry by Enquiry Officer and Imposing Penalty) Regulations 2002, had issued an order imposing a penalty of "censure" on the Broker, M/s Vishal J. Shah & Co. (Registration No. INB 031122618), Member, Calcutta Stock Exchange Association Ltd. (Business Code: 1001).